This works very well to block EMI from the ground wire and the environment. It allows the interior wire to slide relatively easily and is hard to damage. The only issue with it is that if you fray the end of it, it tends to go through any material you use to cover it (I used nylon). Unfortunately one of the things it went through were my fingers ;).

If you are going to completely shield it, then using tape on the end will work to tame the frays.